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US economy ‘chugging along’ – Fed’s Tarullo

FXStreet (Edinburgh) - Daniel Tarullo, Governor of the Federal Reserve Board, has admitted that there is too much emphasis on the timing of the Fed’s lift-off.

He also argued that the economy remains a ‘mixed picture’, while a lot of uncertainty still persists around inflation environment. Tarullo stressed that the economy is ‘not close’ to meet its inflation target, adding that it ‘might be better’ to wait for prices to pick up.

United States Chicago Fed National Activity Index registered at -0.04, below expectations (0.08) in October

United States Chicago Fed National Activity Index registered at -0.04, below expectations (0.08) in October
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GBP/USD off lows, weak US data aids recovery

The GBP/USD pair is extending recovery off lows, following a release of the weaker-than-expected Chicago Fed National activity index.
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